Vietnam National Shipping Lines surpasses all targets in 2018

Hanoi (VNA) – The Vietnam National Shipping Lines (Vinalines)
surpassed all its production and business targets set for 2018, with its
maritime transport output reaching 24.3 million tonnes of goods, and total
revenue hitting 13.85 trillion VND (592.8 million USD).

The figures are equal
to 113 percent and 101.6 percent of the set targets, respectively, said
Vinalines Acting General Director Nguyen Canh Tinh at a working session with
Chairman of the Committee for Management of State Capital at Enterprises (CMSC)
Nguyen Hoang Anh in Hanoi on December 21.

In the year, the
output of goods through ports hit nearly 98 million tonnes, meeting the set
goal, while pre-tax profits reached 348 billion VND (14.8 million USD) – a
positive result thanks to efforts to step up financial restructuring and asset
settlement, strictly monitor business and production activities, and develop
consumers, Tinh shared, adding that loss by maritime transport had been cut
down by 70 percent.

Next year, Vinalines
set targets of 18 million tonnes of goods transported by sea, 107 million
tonnes of goods handled at its ports, 12.7 trillion VND in revenue and over 710
billion VND of pre-tax profit, he stated.

He also suggested enhancing
connectivity between enterprises managed by the CMSC in investment, business
administration, IT application, and in using each other’s services.

Anh reminded that
Vinalines should build its business plan in line with the committee’s general
plan, and define its position in the country’s Sea-based Economic Development
Strategy.

Vinalines, founded in
1995, is a fully State-owned enterprise. It was transformed into a holding
company in 2006 and a State-owned one member limited company in 2010. The
corporation has made various restructuring steps to improve its business
results after several years of sharply falling profits.

The CMSC, established
by the Government, debuted late September.

It is managing 19
State-owned economic groups and corporations. According to consolidated
financial statements by December 31, 2017, the total value of the State equity
at these 19 firms topped 1 quadrillion VND (43 billion USD) and total asset
value was 2.3 quadrillion VND.-VNA